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Fox, Jason
Jason Fox
Senior Partner
P: +44.(0).207.448.4206
F: +44.(0).207.657.3124

Jodie Frampton

+44.(0).207.448.4252

Jason Fox has more than 25 years of experience as an energy finance lawyer. He focuses on the upstream sector and has advised on more than 100 Reserve Based Lending (RBL) financings as well as numerous other financings in the wider energy sector.

“Jason Fox is ‘a guru on bank financing in the energy sector.’ He is exceptionally experienced on reserve-based lending work for upstream oil and gas exploration,“ Chambers UK 2016.

“Jason Fox is ‘the go-to lawyer and first on the list when considering any new instruction. His professionalism, knowledge and expertise are undoubted and delivered with personality and accessibility,’”IFLR 2016.

“Jason Fox has ‘extraordinary credentials, he is the pre-eminent practitioner in reserve-based financing,’”Legal 500 UK 2016.

“Practice head Jason Fox has ‘extraordinary credentials in reserve-based lending,’”Legal 500 UK 2016.

Representative Matters

Addax Petroleum: advising BNP Paribas as mandated lead arranger in relation to a US$300 million financing for the upstream oil and gas interests in Nigeria of Addax Petroleum

Addax Petroleum: advising Calyon as mandated lead arranger and facility agent on a US$450 million secured general corporate facility for Addax Petroleum to finance Nigerian oil and gas assets

Addax Petroleum: advising BNP Paribas and Standard Bank on a US$200 million facility to Addax Petroleum NV to finance Nigerian oil and gas assets

Addax Petroleum: advising BNP Paribas on a US$100 million facility to Addax Petroleum NV to finance Nigerian oil and gas assets

Afren: advising Afren on a US$100 million facility to Afren CI (UK) Limited for the acquisition of Devon's oil and gas interests in Côte d'Ivoire

Afren Okoro: advising Afren Energy Resources Limited on a US$80 million senior secured borrowing base facility arranged by BNP Paribas for the Okoro field, offshore Nigeria

Afren Okoro: Advising Afren Okoro Limited on a US$200 million loan facility and US$30 million letter of credit facility to support the development of the Okoro field, offshore Nigeria

Afren plc: advising Afren plc on a US$50 million facility from SOCAR

Afren Resources: advising Afren Resources on a US$450 million senior secured borrowing base facility to finance the development of the Ebok and Okwok fields offshore Nigeria

Amerisur Resources plc: advising The Bank of Nova Scotia as arranger of a US$175 million reserve-based lending facility provided by The Bank of Nova Scotia, HSBC Bank USA, National Association and Société Générale to Amerisur Resources plc

Afren Resources: advising Afren Resources Limited on a US$450 million senior secured borrowing base facility (refinancing) arranged by BNP Paribas for the development of the Ebok Field, offshore Nigeria

Atlantis Technology: advising Atlantis Technology on a limited recourse financing for the Isis field, offshore Tunisia

ATP Oil and Gas Corporation: advising ATP in relation to the UK aspects of US$900 million term facility arranged by Credit Suisse

ATP Oil and Gas Corporation: advising ATP in relation to the UK aspects of a US$200 million facility arranged by CSFB

AU Energy B.V.: advising AU Energy B.V., a subsidiary of Mercuria, on a €32 million reserve based financing to acquire Tullow Oil’s Dutch upstream assets

BP: advising BNP Paribas and Standard Chartered Bank on a US$3 billion financing against BP's Angolan oil interests

Bridge Energy Norge AS: advising Royal Bank of Scotland and DnB NOR Bank ASA on a 400 million NOK exploration financing facility agreement to finance exploration on the Norwegian continental shelf

Bridge Energy (SNS) Limited: advising the royal Bank of Scotland plc on a £42 million reserve based financing for Bridge Energy (SNS) Limited to finance the acquisition of an interest in the Duart Field and the development of other oil and gas assets

British Borneo: advising British Borneo on a US$260 million limited recourse financing to develop the Elgin/Franklin field

CE Electric: advising CE Electric UK Funding Company on a €150 million multicurrency revolving facility agreement

CE Electric: advising CE Electric UK Funding Company Limited on a €100 million revolving loan facility

CE Electric: advising CE Electric on a €119 million facility with EIB

Cairn Energy: advising Royal Bank of Scotland and International Finance Corporation on a US$850 million credit facility for Cairn India Holdings Limited

Candax Energy: advising Bank of Scotland as arranger in relation to a US$50 million borrowing base facility to subsidiaries of Candax Energy for the financing of development oil and gas assets in Tunisia

Carrizo Oil: advising BNP Paribas and Société Générale on a US$84 million borrowing base facility for Carrizo Oil to project finance the development of the Huntington field in the UK North Sea

CH4Energy Limited: advising ABN Amro and Natixis Banques Populaires on a €200 million financing for CH4 Energy Limited (UK and Netherlands)

Chinook Energy Inc.: advising HSBC on a US$45 million reserve based financing for Chinook Energy’s Tunisian oil and gas operations

CIECO Energy (UK): advising Sumitomo Mitsui Banking Corporation Europe and the Bank of Scotland in relating to a US$42 million facility for CIECO Energy (UK) for the acquisition of oil and gas assets in the North Sea

Coastal Energy: advising Sumitomo Mitsui Banking Corporation on a US$42 million borrowing base facility for Coastal Energy's oil and gas interests in Thailand

Coastal Energy Company: advising BNP Paribas, Commonwealth Bank of Australia, Standard Chartered Bank and Standard Bank as mandated lead arrangers with respect to a US$200 million borrowing base facility to Coastal Energy Company to develop its oil and gas assets located in Thailand

Coastal Energy Company: advising Sumitomo Mitsui Banking Corporation on a US$50 million borrowing base facility for Coastal Energy Corporation to finance developments in the Gulf of Thailand

Cobalt Energy: advising Société Générale as a Mandated Lead Arranger on an up to $650m borrowing base facility to Cobalt Energy provided by Société Générale, Credit Agricole and Commonwealth Bank of Australia

Dana Petroleum: advising Royal Bank of Canada on a US$900 million revolving corporate facility to Dana Petroleum

Dana Petroleum: advising ABN AMRO on a US$600 million secured bridge facility to Dana Petroleum for financing Dana's general corporate needs and to acquire Devon Energy Corporation's entire upstream petroleum business in Egypt

Dana Petroleum plc: advising Bank of Scotland on a US$400 million revolving credit facility

Dana Petroleum plc: advising ABN Amro on a US$400 million revolving bridge facility

DNO ASA: advising ANZ Investment Bank on a US$100 million financing for the oil and gas interests of DNO ASA in the UK, Norway, Ireland and Yemen

Eclipse Energy: advising RMB Resources on facilities and related warrants for Eclipse energy

Endeavour Energy UK: advising Commonwealth Bank of Australia on a £20.6 million letter of credit facility for Endeavour Energy UK

Endeavour International: advising BNP Paribas and Bank of Scotland on a US$225 million reserve based financing for Endeavour International for its North Sea assets

EnQuest plc: advising Bank of Scotland and BNP Paribas as lead arrangers on a US$280 million senior secured facility for EnQuest plc

EnQuest plc: advising Lloyds Banking Group, BNP Paribas, Barclays Corporate, Royal Bank of Scotland plc, Bank of America Securities Limited and Crédit Agricole Corporate and Investment Bank on a US$900 million revolving facility for Enquest plc.

Fairfield Energy: advising Barclays on a US$40 million bridge facility for Fairfield Energy

First Hydrocarbon Nigeria: advising First Hydrocarbon Nigeria on an up to US$230 million acquisition borrowing base facility for onshore Nigerian assets

First Oil plc: advising BNP Paribas in relation to a £190,000,000 borrowing base facility for First Oil, to refinance existing facilities

Iona Energy: advising Lloyds TSB Bank plc, Bank of America and Scotiabank on a US$250 million reserve based financing

Intrepid Energy: advising JP Morgan as arranger and agent bank in relation to a US$600 million financing for Intrepid Energy's UKs oil and gas assets

IPR Group: advising HSBC on a US$50 million senior secured borrowing base facility for the IPR Group, to refinance existing facilities and finance the development of IPR's petroleum assets in Egypt

Ithaca Energy: advising BNP Paribas as lead arranger, in connection with a US$400 million senior secured credit facility to Ithaca Energy, an oil and gas exploration, development and production company active in the UK's Continental Shelf

Ithaca Energy: advising Bank of Scotland on a senior facility for Ithaca Energy to finance the development and operation of various UK North Sea petroleum assets

KrisEnergy: advising HSBC Bank on a US$100 million secured revolving credit facility for KrisEnergy, an independent upstream E&P company with a focus on Southeast Asia

Kuwait Energy: advising Deutsche Bank and IFC on a US$160 million Facility for Kuwait Energy International Limited's assets in Egypt and the Ukraine

Lundin Petroleum: advising a group of 25 lenders on a US$2.5 billion secured loan and letter of credit facility for Lundin Petroleum, based on oil and gas assets in France, Indonesia, Norway and The Netherlands; the transaction was coordinated by HSBC as documentation bank and BNP Paribas as facility agent and security trustee, along with 15 other lead arrangers

Marubeni Oil & Gas UK: advising Royal Bank of Scotland, Bank of Scotland and Mizuho Bank on a US$560 million facility for Marubeni Oil & Gas UK to finance assets in the UK and US

Maurel & Prom: advising Maurel & Prom on a US$50 million facility arranged by Standard Bank

Maurel & Prom: advising Maurel & Prom on a US$350 million senior facility with Natixis, BNP Paribas, Credit Agricole and Standard Chartered Bank

Maurel & Prom: advising Maurel & Prom on an up to US$650 million revolving credit facility arranged by BNP Paribas, Crédit Agricole Corporate and Investment Bank, Natixis and Standard Chartered Bank

Merlon Petroleum: advising BNP Paribas and the European Bank for Reconstruction and Development on a US$80 million reserve based financing for Merlon Petroleum’s Egyptian Assets

Northern Power Grid Holdings: advising Northern Power Grid Holdings on a £150 million facility with Royal Bank of Scotland plc, Lloyds TSB Bank and Abbey National Treasury Services

Odebrecht E&P Angola: advising HSBC Bank plc and Standard Bank on a US$250 million senior guaranteed bridge term loan facility for Odebrecht E&P Angola

Oilexco North Sea: advising Royal Bank of Scotland on successive financings to Oilexco including on a US$500 million borrowing base facility and a £100 million pre-development facility for Oilexco North Sea and on Oilexco’s subsequent administration

Oranje-Nassau Energie: advising ING Bank N.V. and a syndicate of five lenders on a US$340 million borrowing base facility for Oranje-Nassau Energie, based on oil and gas assets in the U.K., Netherlands and Gabon

PA Resources AB: advising Crédit Agricole Corporate and Investment Bank and Standard Bank on a US$250 million reserve based financing for PA Resources to finance the development of the Azurite Field in the Republic of Congo; awarded 'African Upstream Deal of the Year 2010'; Project Finance Magazine

Paladin Resources: advising JP Morgan as arranger and agent bank in relation to a syndicated US$600 million senior secured revolving credit facility for Paladin Resources

Paladin Resources plc: advising Chase Manhattan International Limited on a US$125 million borrowing base facility for Paladin Resources plc

Paladin Resources plc: advising Chase Manhattan International Limited on a US$75 million borrowing base facility for Paladin Resources plc

Perenco UK: advising BNP Paribas on a £525 million term loan and revolving letter of credit for Perenco UK

Perenco: advising Perenco on a US$2.8 billion reserve-based lending facility; Project Finance Magazine 'European Upstream Oil & Gas Deal of the Year' 2010

Petroceltic International plc: advising Petroceltic plc on a US$300 million bridge facility to acquire Melrose Resources plc and refinance its debt

Petroceltic International plc: advising Petroceltic plc on a US$500 million financing against the group's resources in Egypt, Italy and Bulgaria and contingent resources in Algeria

Petrogas International E&P Coöperatief U.A.: advising Petrogas International E&P Coöperatief U.A. on a US$150 million secured borrowing base facility arranged by ING Bank N.V. relating to Petrogas’ acquisition of certain assets located in the Netherlands

Petroneft Resources: advising Arawak Energy, part of the Vitol group of companies on a US$15 million financing provided to Petroneft Resources in connection with an oil and gas joint venture in Russia

Regal Petroleum: advising Bank of Scotland on a US$15 million facility to Regal Petroleum plc

Salamander Energy: advising BNP Paribas and IFC on a US200 million borrowing base financing for Salamander Energy

Salamander Energy: advising BNP Paribas, Standard Chartered Bank and IFC (as co-ordinating banks) in relation to a syndicated US$250 million senior secured borrowing base facility and a US$75 million junior secured borrowing base facility to Salamander Energy to develop its oil and gas assets in Thailand and Indonesia

Salamander Energy: advising Sumitomo Mitsui Banking Corporation on a US$37.5 million borrowing base facility to Salamander Energy secured against oil and gas assets in Indonesia

Salamander Energy: advising BNP Paribas, Natixis and IFC on a US$30 million junior borrowing base facility to Salamander Energy

Salamander Energy plc: advising BNP Paribas on a US$125 million secured acquisition bridge facility for Salamander Energy plc

Sea Dragon: advising Sea Dragon Energy on a US$50 million reserve-based loan and letter of credit facility provided by HSBC Bank and BNP Paribas to finance Sea Dragon's petroleum assets in Egypt

Seplat Petroleum: advising Seplat Petroleum on its US$1.7 billion term and revolving facilities comprising of a reserve-based financing with Nigerian banks and a corporate facility with international banks, each secured against Nigerian oil and gas assets

Serica Energy:  advising JP Morgan on a US$100 million revolving facility to Serica Energy against assets in the UK and Indonesia

Silverstone SNS: advising Royal Bank of Scotland on a £30 million borrowing base facility to Silverstone SNS to finance the development of its petroleum assets in the UK North Sea

SNPC: advising Standard Chartered Bank, KBC Bank and Rand Merchant Bank on a US$210 million oil-backed financing to Société Générale des Pétroles due Congo (SNPC) secured against oil revenues from the Republic of Congo

Sonangol: advising Rand Merchant Bank on its participation in a US$350 million crude oil prepayment facility with Sonangol, the national oil company of Angola

Sterling Resources (UK): advising Société Générale and BNP Paribas on a £105 million senior secured project financing facility for Sterling Resources (UK) for the development of the Breagh gas field in the UK North Sea

Stratic EnergyCorporation: advising Stratic Energy Corporation as borrower under a senior borrowing base facility and an undeveloped asset backed facility provided by Société Générale and the Royal Bank of Scotland, among others

TransGlobe Petroleum: advising Sumitomo Mitsui Banking Corporation as mandated lead arranger and facility agent on a US$100 million senior secured reserve based facility for TransGlobe Petroleum to finance the development and operation of assets in Egypt and Yemen

Tullow Oil: advising Royal Bank of Scotland, BNP Paribas, IFC and other lenders on the UK market's largest borrowing base facility, US$3.5 billion senior and junior secured credit facilities for Tullow Oil

Tullow Oil SK: advising BNP Paribas, ABN AMRO and Bank of Scotland as mandated lead arrangers on a £161 million borrowing base facility to Tullow Oil SK (a subsidiary of Tullow Oil) to finance the purchase of the respective producing interests of Esso Exploration and Production UK and Shell UK in certain gas fields

Tullow: advising Crédit Agricole as documentation bank on a US$650 million corporate facility to Tullow, sized against the reserve capacity of Tullow's assets in Uganda

Tullow: advising Crédit Agricole, BNP Paribas and Standard Chartered Bank as mandated lead arrangers on a US$300 million bridge facility to Tullow to partly finance the acquisition of Nuon Exploration & Production BV

Valiant Petroleum: advising BNP Paribas and Bank of Scotland as arrangers on a US$335 million borrowing base facility to Valiant Petroleum

Xcite Energy: advising The Royal Bank of Scotland plc, Société Générale, GESF Credit BV (an affiliate of GE), Nedbank Limited and Britannic Strategies Limited (a subsidiary of BP plc) on a US$155 million secured reserve based credit facility for AIM-listed oil development company Xcite Energy to fund the development of the Bentley field in the UK North Sea

Education

LL.B., London University, Queen Mary and Westfield College, 1984
L.P.C., College of Law, London, 1985

Bar Admissions

Solicitor of the Senior Courts of England and Wales

Noteworthy

Chambers & Partners, Chambers Global, Projects, 2011-2013, 2015-2017; Energy & Natural Resources: Oil & Gas, 2013, 2015-2017
Chambers & Partners, Chambers UK, Energy & Natural Resources, 1997-2013; Energy & Natural Resources: Oil & Gas, 2015-2017; Projects, 2015-2017
Legalease, The Legal 500 United Kingdom, Leading Individual, Projects, Energy and Natural Resources – Oil & Gas, 2013-2016; Finance – Emerging Markets, 2015-2016; Bank Lending: Investment Grade Debt and Syndicated Loans, 2012, 2015
Legalease, The Legal 500 United Kingdom, Finance – Emerging Markets, 2014-2016; Bank Lending: Investment Grade Debt and Syndicated Loans, 2012, 2015-2016; Projects, Energy and Natural Resources – Oil & Gas, 2013-2016
Legalease, The Legal 500 EMEA, Regional Summary - Africa, 2016
Euromoney Institutional Investor PLC, IFLR1000 Energy & Infrastructure Guide, Sub-Saharan Africa, Leading Lawyer, 2014-2016
Euromoney Institutional Investor PLC, ILFR1000 Financial & Corporate Guide, Leading Lawyer, Bank Lending, 2013; Leading Lawyer, Banking, Project Finance, 2016-2017
Legal Media Group, Expert Guides to the World’s Leading Lawyers, Banking, Finance and Transactional, 2016; Energy and Natural Resource, 2013; Banking Finance & Transaction (Project Finance), 2012; Project Finance, 2011
Practical Law Company, PLC Which Lawyer, Leading Individual Attorney, Energy and Natural Resources: Oil & Gas (England)
The Lawyer, Hot 100, Finance, 2007